Blakeglow Limited (07384708): administration
- Status
- Administration ended
- Administration began
- 2016-05-25
- Administrators' firm
- Kevin Brown Advisory
- Formerly
- Zenbrook Associates Limited
- Incorporated
- 2010-09-22
- Location
- Woodford Green
- Industry
- 43210 Electrical installation
Why it went into administration
- Loss-making contracts / project overruns
From the administrators' statement
The Company commenced trading in September 2011 as specialist desigriers and installers of closed circuit television and door access systems, following the acquisition of the business from the Administrators of the eponymously named company; which had originally started trading in 1978. The Company operated from commercial premises at S00 High Road, Woodford Green, Essex iG8 OPN
The Company’s financial position had been marginal over recent years, and up to 30 September 2014, the date to which its last filed accounts were made-up, had accumulated a balance sheet deficiency of about £39,000 From information available to me, the Company had been supported from the outset of its life by an injection of funds, and the provision of labour and component supply, by James Hallybone Limited, a company owned and controlled by the father of the Company’s sharehalder/director, Reece Putinas, the value of which at the date of the Company’s insolvency amounted to circa £256,000
The Company’s operations were managed on a day to day basis by its operational managers, whom had been in sentor management roles in the business since commencement by the predecessor failed company in 1978 In the ordinary course of business, the operational managers secured new installation contracts for the Company, were responsible for the pricing of contracts, directed the Company's workforce; made all component buying decisions, and customarily decided to whom, and when, payments should be made from the financial resources available to the Company
Administrators' statement of proposals (2016-07-25) · Companies House register